Hey there, crypto enthusiasts! Buckle up because we've got some sizzling updates for you. Shiba Inu (SHIB) and Bitcoin (BTC) are on a roll, while the Pi Network team has some news that’s worth your attention.
First up, Shiba Inu has been stealing the spotlight with a whopping 10% price surge this past week. Trading at around $0.00001472, SHIB has some analysts buzzing with excitement. One of them, JAVON MARKS, thinks this could just be the beginning, predicting a breakout to $0.000081 by the end of 2025. Another enthusiast, pepa, sees SHIB potentially wiping out two zeroes from its price tag, but that would mean an $800 billion market cap—a tall order, given that only Bitcoin has crossed that threshold.
Adding more fuel to the fire, SHIB’s burn mechanism is in overdrive. With an 800% spike in the burn rate over the last 24 hours and 300% weekly, over 43 million tokens have been sent to a null address in the past week. This could spell good news for SHIB holders as a reduced supply could make the token more valuable if demand stays strong.
Switching gears to the Pi Network, they recently celebrated a milestone—2,000 days since launch. But it’s not all smooth sailing. The project remains controversial with no clear timeline for the open mainnet or native token launch. Recently, they extended the KYC verification deadline to November 30, 2024, and the mainnet migration deadline to December 31 this year. This hasn't sat well with everyone, stirring frustration among some community members.
All eyes are now on the Pi Core Team, who promised to reveal the mainnet open roadmap by December 2024. Fingers crossed!
Now, let’s talk Bitcoin. BTC has been on a steady climb, hitting a high of $64,500 before settling at $63,300. This upward trend began after the US Federal Reserve lowered interest rates by 0.5%, making borrowing easier and potentially boosting interest in riskier assets like cryptocurrencies.
Many analysts believe BTC’s rally is just warming up. X user Mags thinks we're entering the “belief” phase of a bull run. Meanwhile, Captain Faibik predicts BTC might test the $68,000 resistance level this week and could even hit a new all-time high of $88,000-$90,000 by the end of December.
So, whether you’re a SHIB aficionado or a BTC believer, the crypto world is buzzing with excitement. Stay tuned, because it looks like we’re in for one thrilling ride!
